The 89 Moving Average has acted as support, so we’ve got a “Thorn” pattern on this line. Therefore, the price is consolidating between the 34 & 55 Moving Averages. So, the market is likely going to continue moving up towards the next resistance at 1.1975 – 1.2003.
If a pullback from this area happens, we could have a decline in the direction of the nearest support at 1.1909 – 1.1892.
Bears faced with support at 1.1850, so there’s a “Thorn” pattern, which pushed the price to resistance at 1.1925. In this case, the market is likely going to reach another resistance at 1.1975 – 1.2003 during the day. However, if we have a pullback from these levels, bears will probably try to catch the closest support at 1.1907 – 1.1892.
